•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Thanh Nam Group (TNI) has outlined its 2026 business plan after reporting the highest profit in 11 years, driven by an unusual gain from the disposal of its stake in Ha Long Garden Hotel. For 2026, the company expects to cut net profit by about 72% while continuing to pursue real estate investments, project M&A, and the stainless steel segment.
In its annual general meeting documents, TNI set a target for 2026 revenue of more than 1,057 billion dong, roughly flat compared with 2025. The company expects net profit after tax of around 12 billion dong, down 72%.
To achieve the 2026 targets, TNI said it will strengthen its stainless steel division to fully exploit market opportunities aligned with regional and industrial park plans. The company plans to prioritize expanding its customer base, including connecting and leveraging existing customers to optimize revenue.
On the investment side, TNI stated it will identify potential areas suitable for investment or M&A with strategic partners to develop real estate projects efficiently and profitably. It also plans to accelerate the completion of the master plan and renovate the Ha Long Garden Hotel project in Quảng Ninh on schedule.
In addition, TNI said it will finalize legal procedures and prepare investment resources to implement a resort project in Quốc Oai, while withdrawing capital from Ha Long Garden Hotel.
According to TNI’s 2025 audited financial statements, the company recorded net revenue of 1,060 billion dong and net profit of nearly 44 billion dong—the highest in 11 years. The profit increase was attributed to a spike in financial income from the disposal of the Ha Long Garden Hotel stake, which exceeded 61 billion dong.
The documents also note that about 221 billion dong was received in March 2026 from transferring equity in Ha Long Garden Hotel.
With the 2025 profit largely supported by one-off financial income related to Ha Long Garden Hotel, TNI’s 2026 plan reflects a shift toward operating drivers—particularly stainless steel—alongside continued real estate development and M&A activities, while targeting a substantially lower net profit figure.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
